Wsdot Narrative Appraisal Report

WSDOT NARRATIVE APPRAISAL REPORT

Parcel No.:

Owner:

WashingtonStateFederal Aid No.:

Department of TransportationProject:

R/WPlan Title:

Plan Sheet xx of xx Sheets

Plan Approval Date:

Date of LastMap Revision:

CERTIFICATE OF APPRAISER

I certify that, to the best of my knowledge and belief:

the statements of fact contained in this appraisal are true and correct;

the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conclusions, and are my personal, unbiased professional analyses, opinions, and conclusions;

I have performed no (or the specified) services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment.

I have no present or prospective interest in the property that is the subject of this appraisal, and I have no personal interest or bias with respect to the parties involved;

my compensation is not contingent upon the reporting of a predetermined value or direction that favors the cause of the client, the amount of the value estimate, the attainment of a stipulated result, or the occurrence of a subsequent event;

my analyses, opinions, and conclusions were developed, and this appraisal has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice and the Uniform Appraisal Standards for Federal Land Acquisitions;

I have made a personal inspection of the property that is the subject of this report. I have made a personal inspection of the comparable sales contained in the report addenda;

I have afforded the owner or a designated representative of the property that is the subject of this appraisal the opportunity to accompany me on the inspection of the property.

no one provided significant professional assistance to the person signing this report. (If there are exceptions, the name of each individual providing significant professional assistance must be stated);

I have disregarded any increase in Fair Market Value caused by the proposed public improvement or its likelihood prior to the date of valuation. I have disregarded any decrease in Fair Market Value caused by the proposed public improvement or its likelihood prior to the date of valuation, except physical deterioration within the reasonable control of the owner;

this appraisal has been made in conformity with the appropriate State and Federal laws and requirements, and complies with the contract between the agency and the appraiser;

The property has been appraised for its fair market value as though owned in fee simple, or as encumbered only by the existing easements as described in the title report dated xx/xx/xxxx.

The opinion of value expressed below is the result of, and is subject to the data and conditions described in detail in this report of ______pages.

I made a personal inspection of the property that is the subject of this report on ______.

The Date of Value for the property that is the subject of this appraisal is ______.

Per the FAIR MARKET VALUE definition herein, the value conclusions for the property that is the subject of this appraisal are on a cash basis and are:

FAIR MARKET VALUE BEFORE ACQUISITION$

FAIR MARKET VALUE AFTER ACQUISITION$

DIFFERENCE$

Date of Assignment or Contract:Name:

Date Signed: Signature:

Washington State-certified general real estate appraiser certification number: xxxxxxxxx

DO NOT WRITE BELOW THIS LINE

HeadquartersServiceCenter Date StampRegion Date Stamp

Assignment Scope of Work

The client of this report is the Washington State Department of Transportation (WSDOT). WSDOT requires that, in addition to compliance with USPAP this report must also meet the WSDOTStandards as set forth in the WSDOT R/W Manual Chapter 4, the WSDOT Appraisal Report Guide, and Federal Regulations as defined in 49 CFR part 24.

In the event of conflict or dispute in determining correct appraisal procedures that are not addressed in the standards noted above the Uniform Appraisal Standards for Federal Land Acquisitions (Yellow Book) will be the determining authority.

Under 49 CFR, WSDOT is required to take an active role in developing the scope of work. However it is the ultimate responsibility of the appraiser to develop a complete Scope of Work and produce a credible appraisal report. The appraisers SCOPE of WORK is included inSection 5 of the report. The report must adhere to the WSDOT and Federal Standards as described above and the specific task assignment for this parcel. The task assignment for this report must be included in the report or addendum.

Eminent Domain Appraisal Information and Definitions

The intended use of this appraisal is to provide information to the client, The Washington State Department of Transportation, as a basis for acquiring the portion of the subject property needed for the proposed project.

Unless stated otherwise in the report, the property rights appraised constitute the fee simple interest.

“Fair Market Value” is defined as; the amount in cash which a well-informed buyer, willing but not obliged to buy the property, would pay, and which a well-informed seller, willing but not obligated to sell it would accept, taking into consideration all uses to which the property is adapted and might in reason be applied (Washington Pattern Instruction 150.08).

The intended user of this report is primarily WSDOT. Additionally, its funding partners may review the appraisal as part of their oversight activities. A copy of this report may be provided to the property owner as a courtesy and part of the good faith bargaining process. However, this does not imply that the property owner has standing as an intended user and is not authorized to publish or use the report for any other purpose.

Public Law 91-646 (Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970) and Washington State RCW 8.26.180 both require that the owner or owner’s representative be given an opportunity to accompany the appraiser during the inspection of the property. “If the appraiser is advised that the property owner is represented by legal council, all owner contact and property inspections must be arranged through the owner’s attorney, unless the attorney specifically authorizes the appraiser to make direct contact with the owner”.

In condemnation, the larger parcel is the portion of a property that has unity of ownership, contiguity, and unity of use, the three conditions that establish the larger parcel for consideration of severance damages. This is also known as the “parent parcel”

Extraordinary assumptions or hypothetical conditions include but may not be limited to the following:

State and Federal standards require the appraiser to disregard any decrease or increase in the fair market value of the subject caused by the project. The appraiser may cite the Jurisdictional Exception Rule to comply with this requirement which is found in RCW 8.26.180. and WAC 468-100-102 (2).

The after value is based on the assumption that the project has been constructed as proposed on the Right of Way plans as of the date of value.

APPRAISAL ASSUMPTIONS AND LIMITING CONDITIONS

1. The property description supplied to the appraiser is assumed to be correct;

2. No survey of the property has been made or reviewed by the appraiser, and no responsibility is assumed in connection with such matters. Illustrative material, including maps and plot plans, utilized in this report are included only to assist the reader in visualizing the property. Property dimensions and sizes are considered to be approximate;

3. No responsibility is assumed for matters of a legal nature affecting title to the property, nor is any opinion of title rendered. Property titles are assumed to be good and merchantable unless otherwise stated;

4. Information furnished by others is believed to be true, correct, and reliable. However, no responsibility for its accuracy is assumed by the appraiser;

5. All mortgages, liens, encumbrances, leases, and servitudes have been disregarded unless so specified within the report. The property is assumed to under responsible, financially sound ownership and competent management;

6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures which would render the property more or less valuable. No responsibility is assumed for such conditions or for arranging for engineering studies which may be required to discover them;

7. Unless otherwise stated in this report, the existence of hazardous material, which may or may not be present on the property, was not observed by the appraiser. However, the appraiser is not qualified to detect such substances. The presence of substances such as asbestos, urea-formaldehyde foam insulation, or other potentially hazardous materials may affect the value of the property. The value conclusions in this report are predicated on the assumption that there are no such materials on or in the property that would cause a loss of value. No responsibility is assumed for any such conditions, or for the expertise required to discover them. The client is urged to retain an expert in this field if desired. The analysis and value conclusions in this report are null and void should any hazardous material be discovered;

8. Unless otherwise stated in this report, no environmental impact studies were either requested or made in conjunction with this report. The appraiser reserves the right to alter, amend, revise, or rescind any opinions of value based upon any subsequent environmental impact studies, research, or investigation;

9. It is assumed that there is full compliance with all applicable federal, state, and local environmental regulations and laws unless noncompliance is specified, defined, and considered in this report;

10. It is assumed that all applicable zoning and use regulations and restrictions have been complied with, unless non-conformity has been specified, defined and considered in this report;

11. It is assumed that all required licenses, certificates of occupancy, consents, or other legislative or administrative authority from any local, state, or federal governmental or private entity or organization have been or can be obtained or renewed for any use on which the value estimate is based;

12. The appraiser will not be required to give testimony or appear in court because of having made this report, unless arrangements have previously been made;

13. Possession of this report, or a copy thereof, does not carry with it the right of publication. It may not be used for any purpose by any person other than the client without the written consent of the appraiser, and in any event, only with properly written qualification and only in its entirety;

14. Neither all nor any part of the contents of this report, or copy thereof, shall be conveyed to the public through advertising, public relations, news, sales, or any other media without written consent and approval of the appraiser. Nor shall the appraiser, client, firm, or professional organization of which the appraiser is a member be identified without the written consent of the appraiser;

15. The liability of the appraiser, employees, and subcontractors is limited to the client only. There is no accountability, obligation. or liability to any third party. If this report is placed in the hands of anyone other than the client, the client shall make such party aware of all limiting conditions and assumptions of the assignment and related discussions. The appraiser is in no way responsible for any costs incurred to discover or correct any deficiencies of the property;

16. It is assumed that the public project which is the object of this report will be constructed in the manner proposed on the most recent right of way plan prior to the appraisal date and in the foreseeable future;

17. Acceptance and/or use of this report constitutes acceptance of the foregoing assumptions and limiting conditions.

SUBJECT PLOT PLAN

Shown aresubject wholeproperty site dimensions, access frontages, improvement locations and dimensions, acquisition area and dimensions, “North arrow”, camera location and direction for each attached subject photo.

Before Area: / After Area: / Fee Acquisition:
Permanent Easement Acquisition: / Temporary Easement Acquisition:
Limited Access/Access Notes:

SUBJECT PHOTOGRAPHS

Date of Photos: / Photographer:

SUBJECT PHOTOGRAPHS

Date of Photos: / Photographer:

SELF CONTAINED NARRATIVE APPRAISAL REPORT

1. OWNER:

2. LOCATION OF SUBJECT:

3. SUBJECT LEGAL DESCRIPTION:

4. DELINEATION OF TITLE (5 years):

5. THE APPRAISAL PROBLEM AND APPRAISER’S SCOPE OF WORK:

6. PROPERTY RIGHTS TO BE ACQUIRED AND EFFECTS OF ACQUISITION/PROJECT

(include description of area being acquired in fee, in easement and access if applicable):

7. DESCRIPTION OF SUBJECT PROPERTY including but not limited to:

Neighborhood:

A. Present use:

B. Accessibility and Road Frontages:

C. Land Contour and Elevations:

D. Land Area:

E. Land Shape:

F. Utilities:

G. Present Zoning:

H. Highest and Best Use If Vacant:

I. Improvements:

J. Specialty Items:

K. Real Estate Taxes:

L. Assessments Current and Pending:

M. Existing Lease or Rental Data:

N. Highest and Best Use of the Whole Property as Improved:

8. APPROACHES TO VALUE:

9. VALUATION-BEFORE:

A. Site Valuation:

(1) Sales Comparison Approach:

(a) Scope of Data Search:

(b) General Discussion:

(d) Correlation and Conclusions ofSalesComparisonApproachto Land Value Before:

(2) Income Approach to land value (if appropriate):

(3) Correlation and Final Conclusion of land value before:

B. Whole Property Valuation:

(1) Sales Comparison Approach to Value of Whole property:

(a) Scope of Data Search:

(b) General Discussion:

(d) Correlation andConclusion of Sales Comparison Approachto Whole Property Before:

(2) Income Approach to Value of Whole property (if appropriate):

(3) Cost Approach to Value of Whole property (if appropriate):

C. Correlation and Final Conclusion From All Approaches:

10. REMAINDER EVALUATION:

(1) Assumptions and Limiting Conditions:

(2) Neighborhood Factors:

(3) Description of Subject Remainder:

(4) Highest and Best Use Analysis

(5) VALUATION- AFTER

Discussion of Approaches to Value

Correlation and Conclusion From All Approaches

(6) Recapitulation:

A. Value of property “before” acquisition $______

B. Value of property “after” acquisition$______

C. Difference between “before” and “after” values $______

11. EXPLANATION, MEASUREMENT, SUPPORTING DATA AND

ALLOCATION OF DAMAGES, COSTS TO CURE, AND SPECIAL BENEFITS:

12. SUMMARY OF APPRAISAL CONCLUSIONS

(Accounting tabulation - NOT indicative of appraisal method employed)
Indicated Subject Value Before Project
Highest and Best Use Before:
Land value before
Units $ per unit of comparison / $
$
$
TotalUnits Before / Total land value before / $
Improvement value before
$
$
$
Total improvement value / $
TOTAL SUBJECT VALUE BEFORE PROJECT / $
Indicated Subject Value After Project
Highest and Best Use After:
Land Value after
Units $ per unit of comparison / $
$
$
Total Units After / Total land value after / $
Improvements After Project / $
$
$
$
Total improvement value
Less Cost to Cure, if any / $
TOTAL SUBJECT VALUE AFTER PROJECT / $
Estimated value allocation of rights acquired
Land:
Fee purchase / $
Temporary Easement / $
Permanent Easement / $
TotalLand / $
Improvements:
Buildings / $
Site Improvements / $
Total Improvements / $
Total Acquisition / $
Plus Damages and Cost to Cure:
Cost to Cure / $
Loss in value after / $
Total Damages and Cost to Cure / $
Less Special Benefits, if any / $ / $
Total Estimated Owner Compensation / $

Note: totals should be rounded to nearest significant market number. Total Subject value before less Total Subject value after must equal Estimated Owner Compensation.

13. REPORT OF CONTACT WITH OWNER:

Person(s) Contacted:

Address:

Date of Contact:

Relationship to Owner:

Date of Joint Inspection:

Phone:

Identify all participants in the inspection:

Comments:

14. PersonaltyRealty Report: State and Federal standards require the appraiser to identify the

Ownership of real property improvements and personal property. Insert form RES 217 for Residential or RES 218 for Commercial or Industrial.

Section 15 Addenda

Market Data Map

Note:The sales map must be of a scale and quality that the sales can be located on the ground by the user of this report.

MARKET DATA

Comparable No. ____

(1) ADDRESS or LOCATION:

(2) SALE SKETCH AND PHOTO ARE ON FOLLOWING PAGE;

(3) / a. Access: / g. Sale Date:
b. Use at Sale: / h. Price:
c. H & B Use: / i. Instrument Type:
d. Zoning: / j. Terms:
e. Dimensions: / k. Ex. Tax # or AF#:
f. Area: / l. Seller:
m. Buyer
n. Confirmed With:
Phone #: / Confirmed Date
o. Confirmed By: / p: Date Inspected:

(4) LEGAL DESCRIPTION or TAX PARCEL NUMBER:

(5) PHYSICAL CHARACTERISTICS (confirmation information, property description at sale, changes since sale, etc.):

A)Property Description

B) Confirmation Data and Comments:

(6) ALLOCATION:

ITEM / CONTRIBUTION VALUE / MARKET UNIT
Land: / $ / $
Buildings: / $ / $
$ / $
$ / $
Other (Site, Yard, etc.): / $ / $
$ / $
TOTAL SALE PRICE / $ / $

Comparable No.

SALE SKETCH AND PHOTOGRAPHS

Include: Site Dimensions, access, frontages, improvement locations and identification labels, “north arrow”, camera locations and directions corresponding to the photos shown on this page.

Date Taken:Photographer: